According to recent media reports, Joseph Lubin, co-founder of Ethereum and founder of ConsenSys, said in an interview that he divided the new encryption project into two categories: good marketing projects and good competitors. Lubin said that the project is difficult to become a trust layer based on the first layer. However, Bitcoin and Ethereum as decentralized networks are enough to serve as the existing basic trust layer. Lubin also pointed out that Bitcoin and Ethereum do not have to deal with regulators, which is different from the new projects in the industry. For a technology-intensive project, it is not impossible to compete with the network effect of Ethereum, although this is “very, very difficult”.